Itta/17/2020 Of The Pr. Commissioner Of Income-Tax v. M/S Ccl Products (India) Pvt. Ltd

APHC010260952019 IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction) [3545] THURSDAY,THE TWENTY FIRST DAY OF AUGUST TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE BATTU DEVANAND THE HONOURABLE SRI JUSTICE A. HARI HARANADHA SARMAINCOME TAX TRIBUNAL APPEAL NO: 17/2020 Between: 1. THE PR. COMMISSIONER OF INCOME-TAX, GUNTUR ...APPELLANT AND 1. M/S CCL PRODUCTS INDIA PVT LTD, Duggirala, Guntur District - 522 330330 ...RESPONDENT Appeal under section _______ against ordersPleased to set aside the oreder of the Income tax Appellate Tribunal visakhapatnam Bench, Visakhapatnam, in ITA No. 348/Vizag/2018 dated 03-04-2019 for A.Y.2014-15 IA NO: 1 OF 2020 Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased Pleased to condone the delay of 198 days in representing the I.T.T.A. and to pass IA NO: 1 OF 2021 Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased pleased to frame the following questions of law as additional substantial questions of law for adjudication of the issues raised in the above appeal. 1 "Whether on the facts and in the circumstances of the case, the Corporate guarantee given by the assessee to its Associated Enterprises without charging any fee or commission would be termed as an "international transaction" within the meaning of Sec.928 of the Income-tax Act,1961. 2 "Whether, the outstanding trade receivables of the assessee, from its Associated Enterprises (AEs), beyond the credit period allowed, would amount to capital financing and consequently, whether the same can be treated as an "international transaction" within the meaning of Explanation( c) to Sec.928 of the Income-tax Act,1961"?. 3. Whether on the facts and in the circumstances of the case the order of the Tribunal is perverse, as the same is rendered without referring to the applicable provisions of "Explanation" to Sec.928 of the Income-tax Act. 4. Whether on the facts and in the circumstances of the case the order of the Tribunal is perverse in deleting the interest charged on trade receivables, by holding that the trade receivables were received without delay, in the light of the finding of the Transfer Pricing officer that interest was computed on those trade receivables paid by the AEs after the lapse of credit period." and to pass Counsel for the Appellant: 1.ELEVATED AS JUDGE Counsel for the Respondent: 1.KARAN TALWAR The Court made the following: THE HON’BLE SRI JUSTICE BATTU DEVANAND & THE HONOURABLE SRI JUSTICE A. HARI HARANADHA SARMA INCOME TAX TRIBUNAL APPEAL NO.17 of 2020 JUDGMENT:(Per Hon’ble Sri Justice Battu Devanand) Learned counsel for the appellant has placed a copy of the certificate issued by the Deputy Commissioner of Income Tax, Circle-1(1), Guntur, wherein it is stated that the appeal filed by the department in I.T.T.A.No.17 of 2020 is to be withdrawn, in view of the tax effect involved in the case is Rs.1,18,99,292/-, which is below monetary limits. Accordingly, learned counsel sought permission of the Court to withdraw this appeal. 2. Copy of the certificate is placed on record. Permission is granted. 3. Accordingly, the Income Tax Tribunal Appeal is dismissed as withdrawn. There shall be no order as to costs. As a sequel, miscellaneous petitions pending, if any, shall stand closed. __________________________ JUSTICE BATTU DEVANAND Date:21.08.2025 SCS __________________________________ JUSTICE A. HARI HARANADHA SARMA 239 THE HON’BLE SRI JUSTICE BATTU DEVANAND & THE HONOURABLE SRI JUSTICE A. HARI HARANADHA SARMA INCOME TAX TRIBUNAL APPEAL NO.17 of 2020 Dt.21.08.2025 SCS